The Ministry of Fisheries and Ocean Resources, in partnership with SME Digital, has introduced a new Mariculture Scheme designed to advance mariculture as a growing industry in the Maldives.

The primary goal of the scheme is to facilitate access to sea cages, a critical component of mariculture operations. Under the initiative, the Ministry will oversee the provision of sea cages, while SME Digital will extend financial assistance to eligible applicants through simplified Islamic financing principles, ensuring Shariah-compliant and accessible financing options.

A total of 200 sea cages will be financed through the scheme, with facility amounts ranging from MVR 80,000 to MVR 640,000. Beneficiaries will be offered a repayment period of up to six years, including a six-month grace period, providing flexibility for businesses to establish and expand their operations.

SME Digital stated that the scheme is expected to encourage participation in mariculture and strengthen the sector’s long-term viability. The corporation noted that the extended repayment structure would give businesses room to scale their operations sustainably while managing their financial obligations.

Applications for the Mariculture Scheme will open on 13 December 2025 via the SME Digital portal.